In October, single-family building permits weakened, reflecting continued caution among builders amid affordability constraints and financing challenges. In contrast, multifamily permit activity remained steady and continued to perform relatively well.
New single-family home size has been generally falling since 2015 as a response to declining affordability conditions. An exception occurred when new home size increased in 2021 as interest rates
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased during the third quarter of 2025. For the quarter, 119,000 multifamily residences started construction.
Single-family built-for-rent construction fell back in the third quarter of 2025, as a higher cost of financing and increased multifamily supply crowded out development. According to NAHB’s analysis of data
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties)
Builder confidence moved lower to start the year as affordability concerns continue to weigh heavily with buyers, and builders continue to contend with rising construction costs. Builder confidence in the
In the fourth quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 64, increasing four points compared to the previous quarter. Most remodelers are finding reasonably strong
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates year-over year growth for custom home builders amid broader single-family home building weakness. The custom
Townhouse construction gained single-family construction market share during the third quarter of 2025. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during
The latest residential housing market report, delayed by the federal government shutdown last fall, indicates that builders have faced significant headwinds in recent months. Elevated mortgage rates earlier in the
Private fixed investment for student dormitories was up 3.8% in the third quarter of 2025, reaching a seasonally adjusted annual rate (SAAR) of $3.9 billion. This gain followed three consecutive
The number of residential remodelers in the U.S. has reached a record high of 128,187 establishments, 65% higher than the number of residential builders (single-family and multifamily), which stands at
Construction costs account for 64.4% of the average price of a home, according to NAHB’s most recent Cost of Construction Survey. In 2022, the share was 3.6 points lower, at
Despite historically low self-employment rates and the rising market share of top ten builders, residential construction remains an industry dominated by independent entrepreneurs, with nearly 80% of home builders and
Builder confidence inched higher to end the year but still remains well into negative territory as builders continue to grapple with rising construction costs, tariff and economic uncertainty, and many
Single-family homes started in 2024 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction. Homes with three full bathrooms continued to have the second
Market uncertainty exacerbated by the government shutdown along with economic uncertainty stemming from tariffs and rising construction costs kept builder confidence firmly in negative territory in November. Builder confidence in
Private residential construction spending inched up 0.8% in August, continuing steady growth since June 2025. This modest increase was primarily driven by more spending on multifamily construction and home improvements. However, total spending was 2% lower than a year ago, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates. According to